It was to be expected, but that doesn’t make it any less newsworthy: Nokia is really taking a beating on the public markets right now.
Stock price was down about 14% last I looked (NYSE), but it has been hovering around a 13.5% drop in the past few hours.
In case you hadn’t heard, Nokia this morning announced a major strategy shift, switching to Microsoft’s Windows Phone as its primary smartphone platform, shaking up the management team and pushing through other organizational changes.
For what it’s worth: Nokia CFO Timo Ihamuotila posits that the company should get a long-term financial boost from the strategic partnership with Microsoft.
NOKIA is a Finnish multinational communications corporation. It is primarily engaged in the manufacturing of mobile devices and in converging Internet and communications industries. They make a wide range of mobile devices with services and software that enable people to experience music, navigation, video, television, imaging, games, business mobility and more. Nokia is the owner of Symbian operation system and partially owns MeeGo operating system.